Gambling revenue in New Jersey continues to soar with the latest set of numbers, relating to April, which saw a massive 9.5% year-on-year increase in the state; this is despite a drop in revenue from slot machines.
A total revenue figure of $462.7m which is a marked increase on the $422.5 for April 2022, but is less than March’s numbers.
The increase across the sector was dulled by the drop in slot machine revenue which stood at $169.7 million, 3.2% lower than in April 2022. This was in contrast to the increase shown in table game action for the period.
The overall performance in terms of in-person casinos has been something of a surprise, but James Plousis, chairman of the New Jersey Casino Control Commission, was quick to talk up the actual numbers in overall terms, stating;
“Growth in internet gaming win and sports wagering revenue pushed Atlantic City’s total gaming revenue over $400 million for the second consecutive month, which is a positive more typically seen during the summer. As I regularly visit the casino hotels, I hear a lot of optimism that this will be a great summer in Atlantic City.”
It is worth noting that though the in-person revenue for April 2023 is down a little, it is still the second-strongest April in 11 years.
If you boil down the revenue generated from on-premises gamblers, Bally’s saw a drop of 4.3%, Borgata suffered a 5.7% fall, Caesars down by 2.7%, Hard Rock’s revenue fell by 4.4%, Harrah’s fell by 5.7%, Resorts suffered a 13% loss, and Tropicana suffered a similar fall.
However, there were some winners. The Golden Nugget saw its revenue increase by 6.6%, and Ocean Casino saw revenue increase by a massive 30%.
When you look at the numbers as they relate to internet gambling, most experience an upturn, with Borgata securing the largest level of revenue at $107.8 million and Ocean experiencing the biggest upsurge, with an increased profit of over 40%.